IMF demands 18 per cent GST on petrol

ISLAMABAD: The International Monetary Fund (IMF) has demanded Pakistan to implement 18 percent General Sales Tax (GST) on Petrol.

As per details, the Monetary Fund has asked Pakistan to end sales tax relaxation on all items including petrol.

It is proposed to increase the levy on petroleum from Rs60 to Rs100 per liter in the budget of the new financial year.

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Currently, a levy of Rs60 per liter is imposed on petrol and diesel, with an estimated revenue of Rs 950 billion per year. GST on petroleum products has remained at zero level since March 2022.

In the budget, GST was proposed to be 18%.

The International Monetary Fund has demanded to restoration of the standard rate of GST, sources